Press release from the Competition Council regarding the economic concentration project concerning the acquisition by the company “Pharma Capital SA” of the exclusive control of the company “Servier Maroc SA” and the company “Servier Maroc Investissements SAS”

In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 issued for its implementation, as amended and supplemented, the Competition Council makes available to the public the “operation summary” below, containing the information provided by the parties.

This information was prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.

The publication of this press release does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 issued for the implementation of Law No. 104-12 on freedom of prices and competition as amended and supplemented.

Names of the companies and groups involved:

• The acquirer: the company “Pharma Capital SA”;
• The targets: the company “Servier Maroc SA” and the company “Servier Maroc Investissements SAS”.

Nature of the operation:

• Acquisition of exclusive control.

Economic sectors concerned:

• Pharmaceutical products sector.

Deadline for interested third parties to submit their observations:

• 10 days from the date of publication of this press release, i.e. August 3, 2026

NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES

The Competition Council received notification of an economic concentration operation concerning the acquisition by the company “Pharma Capital SA” of the exclusive control of the company “Servier Maroc SA” and the company “Servier Maroc Investissements SAS”, through the acquisition of the entire share capital and associated voting rights.

“Pharma Capital SA” is a Moroccan joint-stock company with its registered office at 29, rue de Lille, 2nd floor, Roches Noires, Assoukhour Assawda, Casablanca, and registered with the Casablanca Trade Register under number 625427. It specializes in investment in the pharmaceutical sector and more generally in the health sector, and is part of the Sefrioui Group.

“Servier Maroc SA” is a Moroccan joint-stock company with its registered office at Immeuble Zevaco, Lotissement Fath 4, boulevard Abdelhadi Boutaleb, Casablanca, and registered with the Casablanca Trade Register under number 72019. It carries out activities in the manufacture, distribution, and commercialization of pharmaceutical products, mainly focused on the following areas: cardio-metabolism, venous diseases, and oncology.

“Servier Maroc Investissements SAS” is a Moroccan simplified joint-stock company with its registered office at 219, boulevard Zerktouni, Casablanca, and registered with the Casablanca Trade Register under number 112035. It specializes in activities such as acquisition, leasing, construction, promotion, and management of all types of commercial and industrial real estate properties.

 

Done in Rabat, on July 23, 2026